HomeMy WebLinkAbout1975-1853 ORDINANCE NO. /,573
AN ORDINANCE authorizing a temporary loan of $260,000 from 370-
Bicentennial Pavilion Construction Fund to 371-Bicen-
tennial Pavilion Parking Fund and providing for
repayment; and appropriating the amount of $260,000
as a 1.975 appropriation for 371-Bicentennial Pavilion
Parking Fund.
WHEREAS, 370-Bicentennial Pavilion Construction Fund of the
City of Yakima currently contains uninvested cash in excess of
$260,000 which is available for investment by making the loan pro-
vided by this ordinance, and
WHEREAS, a temporary loan of $260,000 must be made, and that
money appropriated, in order to pay for land acquisition for park
ing lots and facilities in connection with the construction of a
Bicentennial Pavilion, and
WHEREAS, the City Council finds it to be in the best interests
of the City that the amount of $260,000 be loaned from 370-Bicen-
tennial Pavilion Construction Fund to 371-Bicentennial Pavilion
Parking Fund and appropriated therein, and
WHEREAS, at the time of the adoption of the 1975 Budget it
could not reasonably have been foreseen that this transfer •and
appropriation would be required; and the City Council finds that
an emergency exists of the type contemplated by R.C.W. 35.33.091
and that it is in the best interests of the City to make the
appropriation herein provided, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The amount of $260,000 is hereby transferred and
loaned from 370-Bicentennial Pavilion Construction Fund to 371-
Bicentennial Pavilion Parking Fund, said loan to be repaid to
370-Bicentennial Pavilion Construction Fund from 371-Bicentennial
Pavilion Parking Fund, together with interest at the rate of 6%
per annum, on or before June 30, 1976.
Section 2. As the loan and transfer provided by Section 1
hereof becomes effective, the amount of $260,000 is hereby appro-
priated from unappropriated money in 371-Bicentennial Pavilion
Parking Fund to Account 371.541.65.61 as a 1975 appropriation for
371-Bicentennial Pavilion Parking Fund.
Section 3. The Director of Finance and City Treasurer of
the City of Yakima are hereby authorized to make the necessary
transfer to carry out this ordinance.
Section 4. This ordinance is one making an appropriation
and shall take effect immediately upon its passage, approval and
publication as provided by law and by the City Charter.
PASSED BY T k CITY COUNCIL, signed and approved this
day of 40 , 1975.
410 Mayor
ATTEST:
AL..A.-411r6-rw
City Cle
411
-2 -